Trump, Harris And Cannabis Stocks: Are Election Results Already Priced In?
Portfolio Pulse from Rolando García
The upcoming U.S. election is impacting cannabis stocks, with both Trump and Harris supporting cannabis reform. Stocks like Trulieve, AdvisorShares ETFs, Tilray, Ispire Technology, and Scotts Miracle-Gro are experiencing volatility. Investors are cautious due to uncertainty about Trump's genuine stance on cannabis reform.
October 31, 2024 | 3:06 pm
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POSITIVE IMPACT
Scotts Miracle-Gro shows upward momentum and a bullish MACD, suggesting relative strength. Its diversified product line provides stability amid cannabis sector volatility.
SMG's upward momentum and bullish MACD indicate strength, with its diversified products providing stability in a volatile sector.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Tilray's stock remains stable with no strong momentum, indicating investor indecision. The stock is neutral on MACD and is building resistance around $1.65.
Tilray's stable stock movement and neutral MACD suggest investor indecision as they await clearer signals.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ispire Technology is in a sustained downtrend with intensified selling pressure as election day approaches. Bearish MACD indicates slight investor pessimism.
ISPR's downtrend and bearish MACD reflect investor pessimism as election day nears.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
AdvisorShares Pure US Cannabis ETF saw a rally followed by a decline. Increased volume on the downturn and a bearish MACD signal investor skepticism.
MSOS's rally and subsequent decline, along with bearish MACD, reflect investor skepticism amid political uncertainty.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Trulieve Cannabis experienced gains followed by a sharp drop due to profit-taking and election uncertainty. Increased selling interest and a bearish MACD signal indicate cautious investor sentiment.
Trulieve's stock pattern reflects profit-taking and election-related uncertainty. The bearish MACD and increased selling volume suggest a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
AdvisorShares Pure Cannabis ETF mirrors Trulieve's pattern with a rise followed by a decline. Increased volume on down days and a bearish MACD indicate investor hesitation.
YOLO's pattern of rise and decline, along with bearish MACD, suggests investor caution amid election uncertainty.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70